Hollywood Breakdown
Comcast drops out of the race for Fox, leaving only Disney to claim its prize.
The bidding war for 21st Century Fox is seemingly over after cable giant Comcast takes itself out of the running to acquire much of Rupert Murdoch’s media empire.
By Matthew Belloni • • 3m ListenDisney will likely make its acquisition of a big chunk of 21st Century Fox official soon with a shareholders vote on its $71.3 billion offer happening within days. If approved, Disney would take over assets including 20th Century Fox film and tv studios, and sports and cable networks including FX. Comcast, the largest cable company and broadband provider in the United States, withdrew its offer worth $65 billion after a bidding war between the two giants rocketed the price up. Comcast will still pursue acquiring British satellite broadcaster Sky. The likely Fox-Disney merger signals the end of an era for the legacy studio whose beloved films include “Planet of the Apes,” “The Sound of Music” and “Titanic.” It remains to be seen whether the award winning epics of Fox’s past will continue in its future at Disney.
